at Old National Bank in ChicagoChicago, Illinois, United States
Job Description
Capital Markets Sales & Trading Specialist
Job Locations
US-IL-Chicago
Category/Function
Lending/Commercial/Consumer/Credit
Position Type
Regular Full-Time
Requisition ID
2024-14984
Workplace Type
On Site
Overview
Old National Bank has been serving clients and communities since 1834. With $48 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.
Our team members are our greatest asset, and we continually invest in their growth and development. We offer a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.
We are currently seeking a Capital Markets Sales & Trading Specialist. This position is a critical position within Old National Bank (ONB) responsible for assessing and managing Foreign Exchange (FX) trading and execution risk generated by ONB's client related foreign exchange flow of business. Responsibilities include working with senior leadership in Capital Markets and Treasury to determine appropriate pricing, quoting rates, and managing liquidity risk. The position will also have responsibility for assisting with internal FX sales, client onboarding documentation and departmental and regulatory reporting. Relevant market risk and treasury experience is required. This is an individual contributor role with no direct reports. This role reports to the Head FX and Global Trade Services, Senior Vice President.
Key Accountabilities
Trade Flow Management and Client Order Execution
Execute and manage foreign exchange transactions with clients and upstream bank trading partners directly via the phone or through on-line trading portals and chat rooms. The incumbent is expected to understand the dynamics of the FX market and quote the proper prices to clients. The incumbent must understand the pricing provided by the upstream liquidity providers, add the appropriate mark-up based upon the client's overall relationship, and quote the proper price to the client.
Develop expertise in the use of Old National's system of record for all FX transactions. The incumbent must also have or develop knowledge of ONB's live market data rate generating system, all trading platforms, Online Banking Treasury Management portals, retail Bank Notes and S.W.I.F.T.
Maintain working knowledge of commercial credit and be able to interact with Old National's Credit staff when establishing credit lines for FX clients.
Manage all Nostro (Foreign Currency) account balances via buying and selling currencies to manage the risk associated with the "long" FX positions created by these accounts. The incumbent is responsible for ensuring there is adequate funding to settle all maturing FX trades, particularly during times of market stress or periods of illiquidity
Understand global fixed income markets relationship to exchange rate pricing
Sales
Assist in developing FX client business by soliciting RMs and Bank clients directly. Attending RM Sales Meetings. Presenting FX department capabilities both internally and externally via client calling efforts coordinated with ONB FX Sales Traders and ONB Marketing.
Serve as a sales contact for the trade letter of credit product and the sales input of transactions. The incumbent will interact directly with the client, prepare LC documentation as needed, and communicate with upstream banking partners.
Work with ONB Banking centers to facilitate and manage the FX Bank Note business. Incumbent will make sales and training visits to branches as needed, especially branches that are new to the bank through acquisition.
Administration and support
Prepare on-boarding and legal documentation for Foreign Exchange (FX) client onboarding required under Dodd-Frank including: corporate resolutions, eligible contract participant questionnaires, legal entity identifier protocol and, end user exception reporting. Work directly with clients until all required documentation is complete.
Analyze, calculate, and obtain the appropriate FX Credit facility approval needed to support a client's specific volume of FX business.
Maintain and update FX client files, ensuring all required documents are properly executed and in the file.
Ensure compliance with all applicable policies and regulations including internal ONB policies and Dodd-Frank regulations. With Foreign Exchange Operations personnel provide necessary support to facilitate OCC, Federal Reserve, and internal audit examinations of Foreign Exchange business activity.
Provide ongoing client sales support by responding to inquiries from clients... For full info follow application link.
EOE/Minorities/Females/Vet/Disability
